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Lottery Traders

Meir Statman
Santa Clara University - Department of Finance

Abstract:
The behavior of stock traders and lottery buyers teaches us about our common aspirations, thoughts and emotions. That behavior also helps us answer the many questions of finance such as the construction of portfolios and the nature of equity premium.

Keywords: Gambling, lotteries, Behavioral Finance, Trading, Cognitive Biases, Emotions, Aspirations

JEL Classifications: G, G14

Working Paper Series

Date posted: July 29, 2001 ; Last revised: November 11, 2001

Suggested Citation

Statman, Meir, Lottery Traders. Available at SSRN: http://ssrn.com/abstract=277158 or doi:10.2139/ssrn.277158

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Contact Information

Meir Statman (Contact Author)

Santa Clara University - Department of Finance ( email )

500 El Camino Real
Santa Clara, CA 95053
United States
408-554-4147 (Phone)
408-554-4029 (Fax)